Latin America's integration processes in the light of the EU's experience with EMU

Abstract

The paper assesses the advisability of subregional monetary integration in Latin America by looking at EU experience with EMU and by applying the theory of optimum currency areas as well as other criteria proposed by the more recent literature. It also discusses the extent to which EU fiscal policy architecture could be recreated in Latin America.monetary integration, optimum currency areas, Latin America, dollarisation, exchange rates, fiscal policy coordination, Temprano Arroyo